La Caisse de dépôt et placement du Québec acquires units in TSO3 inc.
La Caisse de dépôt et placement du Québec (la “Caisse”) announced that it acquired, following a bought-deal public offering of TSO3 inc. (“TSO3” or the “Corporation”) (TSX:TOS), through a syndicate of underwriters co-led by Desjardins Capital Markets and the Canaccord Genuity Corporation, 1,050,000 units of TSO3 (the “units”) at a price of C$1.25 per unit, or 11.41% of the issued units.
TS03 is a Québec-based company that develops and markets sterilization systems intended for hospital use.
Each unit shall be comprised of one common share of the Corporation (“Common Share”) and one common share purchase warrant souscription (“Warrant”). Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of C$1.875 at any time during the 24-month period following March 5, 2015.
The Warrants are subject to an accelerated expiry if, at any time after September 30, 2015, the published closing trade price of the Common Shares on the TSX is equal or greater than C$2.00 for any 10 consecutive trading days, in which event the Corporation may give the holders a written notice that the Warrants will expire at 5:00 p.m. (Montréal time) on the 30th day from the receipt of such notice.
Prior to this acquisition, la Caisse held 7,060,000 Common Shares of TSO3, representing 9.62% of the outstanding Common Shares.
Following this acquisition, la Caisse now holds 8,110,000 Common Shares of TSO3, representing 9.82% of the outstanding Common Shares.
If la Caisse had to exercise the Warrants acquired as part of its investment, it would then hold 1,050,000 additional Common Shares representing a total holding of 9,160,000 Common Shares, representing 10.95% of the outstanding Common Shares.
La Caisse may increase or decrease its interest in the Corporation based on market conditions or other relevant factors.
This news release is issued in accordance with the early warning requirements stipulated by securities regulation, which requires that investors, including la Caisse, issue and file a news release and a report, when they acquire beneficial ownership of securities with voting rights that would represent, with the securities they already hold, 10% or more of the outstanding shares.
In accordance with the Early Warning System, a copy of this news release and the report will be filed with the applicable Canadian securities administrators and will be available on SEDAR’s website (www.sedar.com) and from the person referred to below.
ABOUT LA CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
La Caisse de dépôt et placement du Québec is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2014, it held $225.9 billion in net assets. As one of Canada’s leading institutional fund managers, la Caisse invests globally in major financial markets, private equity, infrastructure and real estate. For more information about la Caisse: www.cdpq.com.
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